Fintel reports that Vanguard Group has filed a 13G/A form with the SEC disclosing ownership of 124.01MM shares of Raytheon Technologies Corp (RTX). This represents 8.44% of the company.
In their previous filing dated February 10, 2022 they reported 118.46MM shares and 7.91% of the company, an increase in shares of 4.69% and an increase in total ownership of 0.53% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 12.22% Upside
As of February 8, 2023, the average one-year price target for Raytheon Technologies is $109.58. The forecasts range from a low of $90.90 to a high of $126.00. The average price target represents an increase of 12.22% from its latest reported closing price of $97.65.
The projected annual revenue for Raytheon Technologies is $73,253MM, an increase of 9.21%. The projected annual EPS is $5.16, an increase of 46.67%.
What is the Fund Sentiment?
There are 3385 funds or institutions reporting positions in Raytheon Technologies. This is an increase of 63 owner(s) or 1.90% in the last quarter. Average portfolio weight of all funds dedicated to RTX is 0.64%, a decrease of 2.97%. Total shares owned by institutions decreased in the last three months by 0.26% to 1,468,011K shares. The put/call ratio of RTX is 0.63, indicating a bullish outlook.
What are large shareholders doing?
Capital Research Global Investors holds 77,791K shares representing 5.29% ownership of the company. In it's prior filing, the firm reported owning 74,865K shares, representing an increase of 3.76%. The firm decreased its portfolio allocation in RTX by 6.65% over the last quarter.
Capital International Investors holds 47,676K shares representing 3.24% ownership of the company. In it's prior filing, the firm reported owning 43,728K shares, representing an increase of 8.28%. The firm decreased its portfolio allocation in RTX by 0.40% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 44,051K shares representing 2.99% ownership of the company. In it's prior filing, the firm reported owning 43,782K shares, representing an increase of 0.61%. The firm decreased its portfolio allocation in RTX by 10.67% over the last quarter.
Wellington Management Group Llp holds 43,602K shares representing 2.96% ownership of the company. In it's prior filing, the firm reported owning 46,702K shares, representing a decrease of 7.11%. The firm decreased its portfolio allocation in RTX by 15.90% over the last quarter.
Dodge & Cox holds 34,591K shares representing 2.35% ownership of the company. In it's prior filing, the firm reported owning 36,558K shares, representing a decrease of 5.69%. The firm decreased its portfolio allocation in RTX by 11.78% over the last quarter.
Raytheon Technologies Declares $0.55 Dividend
On February 3, 2023 the company declared a regular quarterly dividend of $0.55 per share ($2.20 annualized). Shareholders of record as of February 23, 2023 will receive the payment on March 23, 2023. Previously, the company paid $0.55 per share.
At the current share price of $97.65 / share, the stock's dividend yield is 2.25%. Looking back five years and taking a sample every week, the average dividend yield has been 2.43%, the lowest has been 1.88%, and the highest has been 5.11%. The standard deviation of yields is 0.43 (n=236).
The current dividend yield is 0.40 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.62. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is -0.25%.
Raytheon Technologies Background Information
(This description is provided by the company.)
Raytheon Technologies Corporation is an aerospace and defense company that provides advanced systems and services for commercial, military and government customers worldwide. With four industry-leading businesses ― Collins Aerospace Systems, Pratt & Whitney, Raytheon Intelligence & Space and Raytheon Missiles & Defense ― the company delivers solutions that push the boundaries in avionics, cybersecurity, directed energy, electric propulsion, hypersonics, and quantum physics. The company, formed in 2020 through the combination of Raytheon Company and the United Technologies Corporation aerospace businesses, is headquartered in Waltham, Massachusetts.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
